Ball Corporation Releases 2023 Annual Financial, Sustainability Report

Ball Corporation released its 2023 Combined Report, which provides stakeholders with an overview of how environmental, social and economic performance are driving value across the business.

“Following the divestment of our aerospace business, this past year presented an opportunity for us to clearly declare who we are as a focused aluminum packaging sustainability leader with an expansive product portfolio,” said Dan Fisher, chairman and CEO of Ball Corporation.

The Combined Report details Ball’s portfolio of aluminum cans and bottles that serve the needs of its beverage, personal care and household products. By focusing on leveraging aluminum’s inherent properties of recyclability, circularity and unmatched durability, Ball delivers packaging solutions that meet customer needs and advance their sustainability and climate goals, as well as Ball’s own.

In anticipation of greater demand for sustainable aluminum packaging, Ball has also taken actions to fully leverage the benefits of its scale, agility and efficiency to ensure a robust and sustainable product supply for customers over the near- and long-term.

“The Climate Transition Plan is our pathway for transforming our organization into a fully circular and decarbonized business that delivers sustainability at scale for our customers, shareholders, and all other stakeholders,” said Ramon Arratia, chief sustainability officer of Ball Corporation. “We are making measurable progress toward achieving our 2030 goals while also building a strong network of diverse partners to advance circularity within the industry.” 

Report highlights include strong 2023 financial performance, plans to use aerospace sale net proceeds of approximately $4.5 billion and free cash flow to significantly deleverage and accelerate return of value to shareholders in 2024 and beyond.

For the first time, more than half (58%) of Ball’s global electricity usage came from renewable sources, with 100% for its beverage packaging plants in the US.

Ball continues to work with suppliers to increase the recycled content of its products and achieved a global beverage packaging average of 70% recycled content, up 4% from the prior year.